Vale's US proxy fell 3.83% on Tuesday amid a heavy sell-off on Brazil's Ibovespa, which shed 2.50%. Rio Tinto also declined, but CSN Mineração bucked the trend.
Key Facts
Vale’s New York-listed shares dropped 3.83% to US$14.32, leading a decline in iron-ore proxies during a broad Brazil sell-off.
The Ibovespa stock index plunged 2.50%, or 4,305 points, to 167,875, with over 92% of its listed companies declining on the day.
Rio Tinto’s US-traded shares slipped 0.90% to US$100.99, extending the negative mood across global mining giants.
CSN Mineração bucked the downturn, rising 2.01% to R$5.57, even as its industrial parent Usiminas fell over 7.5%.
Vale's US shares dipped 0.07% as China steel demand worries overshadowed a Brazil rate cut. CSN Mineração tumbled 5.22% on Friday.
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